NEM (XEM) Partners With OATH Protocol to Enhance dApp User Security
In An Attempt To Boost Security, NEM (XEM) Partners With OATH Protocol
On Oct 2nd NEM (XEM) announced their partnership with OATH protocol. This partnership between will bring a major change in the security structure of XEM. OATH is developing a security layer that facilitates decentralized community decision making across public chains and dApps.
NEM is an out-of-the-box enterprise-grade blockchain platform launched in March 2015. NEM has industry leading blockchain features which include multi signature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
OATH is a level 2 protocol that enables fair, robust, and transparent dispute resolution and governance on the blockchain. OATH is building a security layer that facilitates decentralized community decision making across public chains and dApps.
In NEM ecosystem, it can be integrated into their voting system. OATH will present a further layer of security and stabilize the network to increase the usability of the voting of NEM, by making the voting system free and fair. It will provide a structure to solve the issues in the decentralized and fairway.
NEM’s China head, Steve Li said:
“Oath protocol is an innovative way to give NEM a better experience on a voting solution. With Oath protocol build on NEM, we believe NEM is getting more and more recognition from app and protocol builder among the blockchain industry. This relationship will surely benefit both Oath and NEM community.”
The CEO and Co-Founder of OATH Protocol added:
“NEM is a world-class smart asset management project in the blockchain sphere. Its unique Proof-of-Importance (PoI) consensus algorithm and peer-to-peer payment methods have already led to a widespread response and are hosting several dApps. The variety of NEM use cases will allow us to increase the robustness of OATH protocol and its features, while OATH will provide reliable support to NEM’s existing and future participants. We expect to resolve disputes relating to payments, and branch out into additional possibilities for OATH use cases.”